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Feb 21, 2013 3:00am PST
. peter, calling from new york city. hey, peter. >> caller: hey bill, good morning. how are you? >> bill: thanks for joining us. what's your take on all of this? >> caller: my take is that i'm actually alarmed that we think that we can't cut $85 billion out of a $3.6 trillion budget or to put it another way about 1/3 of 1% of the $17 trillion gross domestic product and think that this is going to crater our economy. if our economy is that weak, then there's been no recovery and what is the point anyway? if we're really concerned about the cuts, bill, why don't you advocate the president give all of the different departments to take the cuts and allocate it so it's best used so it is not across the board. >> bill: first he can't do that. of the sequester is legislation passed by congress which calls for across-the-board cuts. the president can't unilaterally rewrite legislation. so that's the first thing my response to you peter is first of all, i would say -- the congressional budget office says it is going to shrink the economy by 1.3%. it is going to reverse our economic recovery and i
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